$XRP

Cryptocurrency is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank.[1] It is a form of digital payment that allows people to make payments directly to each other through an online system.[2][3]

Individual ownership records are stored in a digital ledger called a blockchain, which is a computerized database that uses strong cryptography to secure transaction records, control the creation of additional coins, and verify the transfer of coin ownership.[1][4] This technology allows for secure online payments without the need for third-party intermediaries.[4]

Bitcoin, the first cryptocurrency, was released as open-source software in 2009 and remains the most well-known.[1] Since then, thousands of other cryptocurrencies have been created.[5] While some see cryptocurrencies as the future of finance, they are also known for their price volatility and use in speculative investments.